Segment Information (Notes)

9 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Information

Segment Information

We operate our business through four reportable segments: Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions, and Industrial.

The Electrical Infrastructure segment primarily encompasses construction and maintenance services to a variety of power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations. We also provide high voltage services to investor owned utilities, including construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services.

The Oil Gas & Chemical segment includes turnaround activities, plant maintenance, engineering and construction in the downstream and midstream petroleum industries. Our customers in these industries are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. Another key offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. We also perform work in the petrochemical and upstream petroleum markets.

The Storage Solutions segment includes new construction of crude and refined products aboveground storage tanks (“ASTs”), as well as planned and emergency maintenance services. The Storage Solutions segment also includes balance of plant work in storage terminals and tank farms. Also included in the Storage Solutions segment is work related to specialty storage tanks, including liquefied natural gas (“LNG”), liquid nitrogen/liquid oxygen (“LIN/LOX”), liquid petroleum (“LPG”) tanks and other specialty vessels, including spheres. Finally, we offer AST products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals.

The Industrial segment primarily includes construction and maintenance work in the iron and steel, mining and minerals, and agricultural industries. Our work in the mining and minerals industry is primarily for customers engaged in the extraction of copper. Our work in the agricultural industry includes the engineering and design of grain silos, docks and handling systems; the design of control system automation and materials handling for the food industry; and engineering, construction, process design and balance of plant work for fertilizer production facilities. We also perform work in bulk material handling, thermal vacuum chambers, and other industrial markets.

The Company evaluates performance and allocates resources based on operating income. The accounting policies of the reportable segments are the same as those described in the Summary of Significant Accounting Policies footnote included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016. Intersegment sales and transfers are recorded at cost; therefore, no intersegment profit or loss is recognized.

Segment assets consist primarily of cash and cash equivalents, accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment, goodwill and other intangible assets.

Results of Operations

(In thousands)

	Three Months Ended						Nine Months Ended
	March 31, 2017			March 31, 2016			March 31, 2017			March 31, 2016
Gross revenues
Electrical Infrastructure	$	82,032		$	94,414		$	273,215		$	251,437
Oil Gas & Chemical	69,295			56,251			164,036			188,682
Storage Solutions	74,431			132,857			403,008			400,074
Industrial	26,501			26,650			74,254			116,375
Total gross revenues	$	252,259		$	310,172		$	914,513		$	956,568
Less: Inter-segment revenues
Oil Gas & Chemical	$	407		$	522		$	6,892		$	3,102
Storage Solutions	379			228			677			1,040
Industrial	236			—			1,271			144
Total inter-segment revenues	$	1,022		$	750		$	8,840		$	4,286
Consolidated revenues
Electrical Infrastructure	$	82,032		$	94,414		$	273,215		$	251,437
Oil Gas & Chemical	68,888			55,729			157,144			185,580
Storage Solutions	74,052			132,629			402,331			399,034
Industrial	26,265			26,650			72,983			116,231
Total consolidated revenues	$	251,237		$	309,422		$	905,673		$	952,282
Gross profit (loss)
Electrical Infrastructure	$	(13,371	)	$	10,407		$	(896	)	$	19,136
Oil Gas & Chemical	4,333			2,616			6,765			14,270
Storage Solutions	5,456			15,108			48,980			49,766
Industrial	968			(828		)	3,027			8,720
Total gross profit (loss)	$	(2,614	)	$	27,303		$	57,876		$	91,892
Operating income (loss)
Electrical Infrastructure	$	(16,306	)	$	4,948		$	(13,085	)	$	5,425
Oil Gas & Chemical	(2,199		)	(1,964		)	(7,054		)	(3,577		)
Storage Solutions	(1,552		)	6,382			23,463			24,305
Industrial	(1,153		)	(3,019		)	(1,996		)	230
Total operating income (loss)	$	(21,210	)	$	6,347		$	1,328		$	26,383

Total assets by segment were as follows:

	March 31, 2017		June 30, 2016
Electrical Infrastructure	$	167,280	$	135,298
Oil Gas & Chemical	142,551		91,350
Storage Solutions	169,829		201,875
Industrial	45,623		67,569
Unallocated assets	54,985		68,875
Total segment assets	$	580,268	$	564,967